IN THE MATTER OF MIDLAND INS. CO.

41294/86, 957

71 A.D.3d 221 (2010)

893 N.Y.S.2d 31

In the Matter of the Liquidation of MIDLAND INSURANCE COMPANY. AMERICAN STANDARD INC. et al., Respondents, SWISS REINSURANCE AMERICA CORPORATION et al., Intervenors-Appellants, and SUPERINTENDENT OF INSURANCE OF THE STATE OF NEW YORK, et al., Appellants.

Appellate Division of the Supreme Court of New York, First Department.

Decided January 12, 2010.


Attorney(s) appearing for the Case

Simpson Thacher & Bartlett LLP, New York City ( Jeffrey Coviello , Barry R. Ostrager and Mary Kay Vyskocil of counsel), for Swiss Reinsurance America Corporation and others, appellants.

Crowell & Moring LLP, New York City ( Paul W. Kalish and Harry P. Cohen of counsel), for Everest Reinsurance Company, appellant.

Andrew J. Lorin , New York City ( James E. D'Auguste , Andrew J. Lorin and Judy H. Kim of counsel), and McCarthy, Leonard & Kaemmerer L.C., Chesterfield, Missouri ( James C. Owen of counsel), for Superintendent of Insurance of the State of New York, appellant.

Sugarman, Rogers, Barshak & Cohen, P.C., Boston, Massachusetts ( Andrew Kanter of counsel), for National Casualty Company and others, appellants.

Gilbert Oshinsky, LLP, Washington, D.C. ( Ted J. Feldman of counsel), for The Babcock & Wilcox Company Asbestos PI Trust and others, respondents.

Eckert Seamans Cherin & Mellott, LLC, White Plains ( Steven R. Kramer of counsel), for CBS Corporation, respondent.

Pillsbury Winthrop LLP, New York City ( Kerry A. Brennan of counsel), for Congoleum Corporation, respondent.

McCarter & English, LLP, New York City ( Gita F. Rothschild and Brian J. Osias of counsel), for The Flintkote Company, respondent.

MAZZARELLI, J.P., SAXE and CATTERSON, JJ., concur.


OPINION OF THE COURT

DeGRASSE, J.

This appeal centers on the precedential effect of our opinion in Matter of Midland Ins. Co. (269 A.D.2d 50 [2000] [hereinafter referred to as Midland LAQ]), which we followed in this liquidation proceeding. The issues before us involve the doctrines of stare decisis and law of the case as well as public policy.

Midland Insurance Company was incorporated under New...

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